Business capital spending sees further decline

SEAN FORD29 Nov 2012, 12:30 p.m.

BUSINESS capital spending in Tasmania is declining.

BUSINESS capital spending in Tasmania is declining.

Private new capital expenditure fell to its lowest quarterly level since late 2010 in the three months to the end of September in trend terms, according to Australian Bureau of Statistics figures out today.

The $13 million fall to $261 million was a third successive quarterly decline, from a high of $315 million in the December quarter last year.

Spending on plant and equipment fell for a fourth successive quarter to $216 million.

Spending on buildings and structure was down $8 million to $44 million and had been declining for three quarters.